Jaffetilchin Investment Partners LLC Purchases Shares of 9,168 Fastenal (NASDAQ:FAST)

Jaffetilchin Investment Partners LLC bought a new position in shares of Fastenal (NASDAQ:FAST - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,168 shares of the company's stock, valued at approximately $655,000.

Several other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Fastenal in the third quarter valued at about $25,000. First Personal Financial Services acquired a new position in shares of Fastenal in the 3rd quarter valued at $36,000. Assetmark Inc. boosted its position in shares of Fastenal by 20.4% in the 3rd quarter. Assetmark Inc. now owns 4,307 shares of the company's stock valued at $308,000 after purchasing an additional 731 shares during the period. Verdence Capital Advisors LLC boosted its position in Fastenal by 1.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,628 shares of the company's stock worth $545,000 after acquiring an additional 142 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in Fastenal during the 3rd quarter worth about $988,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FAST shares. Morgan Stanley raised their price target on Fastenal from $72.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Monday, October 14th. Bank of America assumed coverage on Fastenal in a research note on Monday, October 7th. They issued a "buy" rating and a $85.00 price target on the stock. Stifel Nicolaus restated a "buy" rating and set a $86.00 target price (up previously from $80.00) on shares of Fastenal in a research report on Monday, October 14th. Robert W. Baird increased their price target on Fastenal from $67.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their target price on Fastenal from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $73.33.

Fastenal Stock Performance

NASDAQ:FAST traded down $0.85 during mid-day trading on Tuesday, hitting $83.50. 2,100,686 shares of the company traded hands, compared to its average volume of 3,324,506. The stock's fifty day moving average price is $73.61 and its 200-day moving average price is $68.83. Fastenal has a one year low of $59.47 and a one year high of $84.88. The firm has a market cap of $47.84 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 4.88 and a beta of 0.99. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03.

Fastenal (NASDAQ:FAST - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.90 billion. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. Fastenal's revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Research analysts anticipate that Fastenal will post 2.03 earnings per share for the current fiscal year.

Fastenal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, October 25th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.87%. Fastenal's payout ratio is 77.61%.

Insider Activity at Fastenal

In other Fastenal news, CEO Daniel L. Florness sold 31,818 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $84.50, for a total value of $2,688,621.00. Following the transaction, the chief executive officer now owns 286,018 shares in the company, valued at $24,168,521. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Daniel L. Florness sold 31,818 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now directly owns 286,018 shares of the company's stock, valued at approximately $24,168,521. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Lewis Soderberg sold 488 shares of Fastenal stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $76.32, for a total transaction of $37,244.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,079 shares of company stock worth $16,563,600. 0.41% of the stock is currently owned by corporate insiders.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.